Three Milford, MA Apartment Projects Receive $17.9MUNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three loans totaling $17,900,000 under the Fannie Mae DUS® product line to finance the complexes known as Lincoln Street Apartments, Pheasant Circle Apartments and Sherwood Park Apartments in Milford, MA.
Each of the three, 10-loans amortizes on a 30-year schedule and carries a note rate of 6.38 percent.
The loan was originated by John Kelly, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office. “These transactions demonstrates the flexibility of our multifamily financing platform as we were able to provide acquisition financing at over 80% of the purchase price that includes funding for approximately $1 million in capital improvements,” said Kelly.
“We have closed numerous deals on behalf of this sponsorship group and we look forward to continuing to grow this financial partnership.”
Bret Block Portfolio in College Park, GA Receives $2.13M
UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,125,000 loan under the Fannie Mae DUS® product line to refinance four (4) properties totaling 69 units known as Bret Block Portfolio in College Park, GA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.26 percent.
UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,125,000 loan under the Fannie Mae DUS® product line to refinance four (4) properties totaling 69 units known as Bret Block Portfolio in College Park, GA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.26 percent.
The loan was originated by Bob Anderson, Director, in Arbor’s full-service Atlanta, GA lending office.“We were able to put together a very attractive long - term package that generated maximum proceeds for an experienced borrower,” said Anderson. “The financing of this portfolio emphasizes Arbor’s continuing commitment to fund loans on smaller multifamily properties during difficult market conditions.”
$1.58M Fannie Mae DUS® Small Loan Goes to Brookstone Cottages in Norman, OK 
UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,575,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 64-unit complex known as Brookstone Cottages in Norman, OK.
The 15-year loan amortizes on a 30-year schedule and carries a note rate of 6.61 percent.
The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office.
The 15-year loan amortizes on a 30-year schedule and carries a note rate of 6.61 percent.
The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office.
“Arbor had the opportunity to provide financing on this high-quality LIHTC property with a very experienced borrower,” said Porterfield. “Arbor is one of only a handful of DUS® lenders actively funding affordable housing properties within our Small Loan program.”
CONTACT:
Ingrid Principe. Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553. P: 516.506.4298. F: 516.542.2555. http://www.arbor.com/
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